Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

300 Billion Reasons Why SVB Contagion Is Spreading To The Broader Banking System

Treasury Yields Plunge Most ‘Since Lehman’, Gold Soars Amid Dovish-Dive In Fed Expectations

There are a whole lotta ‘SINCE LEHMAN’ headlines this week!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD triggered the alternate pattern for wave (b) today,
and again I spoke about this in the video this morning,
but did not expect the pattern to come to fruition to be honest.

Here we are now as they say!

It seems wave (b) has traced out an expended flat correction at todays 1.0700 high.
And this eveing the price has dropped sharply again almost to reject the rally today.
I am looking at this decline as the beginning of wave (c).
And if this count is correct,
then we should see wave ‘i’ of (c) fall back into the wave ‘b’ low at 1.0524.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Well,
the pattern in cable has been a hard beast to figure out this week to be honest.
And now today a sharp rally broke resistance to force a completely new wave count.
I was contemplating this new count in the video this morning,
I suppose I should have considered this possibility more seriously this week.
little did I know that a sharp retracement rally would invalidate the pattern and actually trigger this pattern.

Now I am showing a completed wave [c] of ‘B’ as an ending diagonal decline.
The low of this week hit 1.1802.
If that level holds,
then we should expect a rally into wave ‘C’ red over the coming few weeks.

To be brutally honest with you,
I am not completely sold on this new interpretation.
With the erratic way the market is trading these days,
Don’t be surprised if we see a turn back into the downtrend again next week.

Monday;
The wave ‘B’ low must hold at 1.1802.
A break of that low will flip this pattern back on its head again.

A five wave rally must now begin in wave ‘C’.
And the target for wave ‘C’ lies in the area of 135.00.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays drop has confirmed the alternate count for wave ‘v’ of (iii).
The price has moved into a correction in wave (iv) now,
I will be expecting a sideways trade early next week to complete wave (iv) blue.

the decline off that wave (iii) high has traced out three waves down so far,
So I am looking at a possible flat correction wave (iv) with a 3,3,5 internal pattern overall.
This pattern should take at least until midweek next week to complete.

Monday;
Watch for wave ‘b’ to trace out three waves up to the 136.00 area.
This correction will develop over the next few days,
so I will have to wait and see how the final pattern actually plays out.
I do think we need to see another leg up to complete wave [iii] in green as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am doing a whole lot of chopping and changing patterns tonight I know,
but sometimes in life,
you just have to roll with the punches as they say!

Now that we can see the whole pattern off the wave ‘ii’ high in place this evening,
I am pretty confident that this decline is a five wave pattern in wave ‘1’ of ‘iii’ complete at todays lows.

If this count is correct for wave ‘1’ of ‘iii’,
then we should see a bounce in wave ‘2’ of ‘iii’ early next week.
And then later in the week I am expecting a sharp acceleration lower to take over into wave ‘3’ of ‘iii’ later next week.
I think wave ‘iii’ should bring the market down into that 30500 area again by the end of next week.

Monday;
Watch for a corrective bounce in wave ‘2’ of ‘iii’ to back towards the 32500 area.
This correction should not take much more than Monday to complete.
So by Tuesday evening I will be looking for wave ‘3’ of ‘iii’ to be underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I was caught out by the alternate count for gold today also.
This rally has triggered the larger wave (b) count here and overall the pattern seems to be a mirror of the count in EURUSD.
The wave (b) pattern is now shown as a flat correction into todays highs at 1867.
The price should turn lower again in a more impulsive manner next week as wave (c) takes over.
I have not changed my thoughts on where wave (c) should complete though,
I still have my eye on the 62% retracement level at 1748,
and once we get there I will be switching to a bullish mode overall.

Monday;
Watch for wave (b) to complete early on Monday and then we should see a quick decline back below 1800 to confirm wave (C) has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A rally in crude oil today has confirmed this weeks low as wave (i) blue,
and now wave (ii) is underway.
The small rally today is shown as wave ‘a’ of (ii),
and wave (ii) should complete near that 78.00 level again as a three wave correction.
Wave (iii) of [iii] is then expected to take over later next week and carry the price back below 70.00 again.

Monday;
Watch for wave (ii) to trace out three waves up towards 78.00 again.
The high at wave [ii] green must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am not changing the count in the S&P tonight as I am willing to see if the wider market moves into a third wave quicker than the Dow.
There is of course every possibility that todays lows marks the low of wave ‘1’ of ‘iii’,

and that is shown as an alternate count tonight.
but if the market extends the decline on Monday morning,
that will favor this count better for sure.
I have marked todays high at 3940 as the trigger level for that alternate count in wave ‘2’.
A break of that level will switch the wave count.

Monday;
watch for wave ‘3’ of ‘iii’ to continue lower and break the next support level at 3763 again to confirm this pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is working its way through the pattern quicker than I expected today.
I have Labelled todays spike rally as a possible wave (c) of [iv].
The price came back up to the trend channel again at 20.78.
and then reversed off that high again this evening.
The price must fall back below 19.90 again to signal wave [v] is underway.

Monday;
Watch for wave [iv] to hold at 20.78,
and then wave (a) of [v] to fall back to a new low again to kick off wave [v] early next week.